Black homebuyers, who are less likely than their white counterparts to have jobs that can be done remotely, face higher home prices as white homebuyers move to more affordable suburbs
Home prices in neighborhoods where Black people bought homes in 2019 were up 7% in July. That’s higher than the 6% price increase in neighborhoods where white people purchased homes last year. The pace of price growth remained unchanged from pre-pandemic rates in February in both groups of neighborhoods.
For this analysis we analyzed data on home sales during the pandemic looking separately at Census tracts where Black people bought